Spanish Mountain Gold (SPA) launches Feasibility Study
Klondex Mines (KDX) reports “very encouraging” results at Fire Creek
Canaco Resources’ (CAN) gold discovery keeps growing
Claude Resources (CGR) expands gold mineralization at Santoy Gap
Crocodile Gold (CRK) reports completion of Luxor Group bid
Premier Gold Mines (PG) expands presence in Red Lake District
Gold plunged nearly $20.00, sinking as low as $1,607.50 per ounce, after Sunday’s news that Senate Majority Leader Harry Reid approved a tentative agreement with leaders of the House of Representatives and the Obama administration to raise the U.S. debt ceiling. Approval by Senate Democrats is still necessary to cement a deal, but it appears [...]
While many have agonized over the looming August 2 deadline to raise the U.S. debt ceiling, one interesting label for the turmoil may be a “cacophonous hubbub.” That term was used by Gillian Tett, who in today’s Financial Times noted that “Almost every pundit and politician worth their salt has been expressing views on what [...]
Gold futures surged to a new all-time high of $1,637.59 per ounce on Friday as the U.S. debt impasse intensified and the worse than expected GDP report fueled risk aversion on Wall Street. After reaching a new intra-day high, gold futures – per the COMEX December contract – settled up $15.00, or 0.9%, at a [...]
Once again this week, gold and silver shares fell while precious metals rallied. The Philadelphia Gold & Silver Index (XAU) slid 1.7% to 206.62 in mid-day trading Friday, fueled by weakness in the broader markets tied to the worse than expected GDP report and escalating concerns over the U.S. debt ceiling. With its move lower, [...]
Contrary to popular belief, a failure to raise the U.S. debt ceiling will not necessarily lead to a government default. However, fear-mongering by President Obama and politicians from both parties – as well as Treasury Secretary Tim Geithner, Fed Chairman Bernanke, and a host of Wall Street CEO’s – has created the impression that a [...]
Gold climbed to a new all-time record high of $1,633 per ounce Friday morning, fueled by rising risk aversion in financial markets stemming from the disappointing second quarter U.S. GDP report and the debt ceiling impasse. Today’s gold rally marks the latest in a series of new all-time highs for the yellow metal. Earlier this [...]
Newmont Mining (NEM), the largest U.S.-based gold mining company, reported on Friday that second quarter earnings came in at $523 million, or $1.06 per share. While this figure represented a 37% increase over the prior year period, when adjusted for various one-time items, earnings per share was $0.90 – which fell far short of the [...]
GOLD PRICE NEWS – The gold price advanced $7.00 to $1,623 per ounce Friday morning after news that U.S. gross domestic product rose at a 1.3% annualized pace in the second quarter – well below market expectations of 1.8%. The price of gold was also boosted by the fact that President Obama and House Republicans [...]
As policy makers in Washington wrangle over an agreement to raise the debt ceiling by the August 2 deadline, analysts are debating what a deal would mean for gold. Some are calling for a deep correction. However, not all of the analyst community sees gold plunging when the ceiling is ultimately raised. David Bouckhout, Senior [...]
Gold futures bounced between negative and positive territory on Thursday amid increasing uncertainty over the U.S. debt ceiling situation. COMEX gold futures, per the December contract, traded near unchanged this morning at $1,617, but subsequently fell to $1,605 in mid-day trading. However, the yellow metal rebounded to $1,619 this afternoon, before settling with a slight [...]
